The Spring Market As I See It
Spring has arrived. Brisk activity, with plenty of inventory is anticipated. Interest rates are currently at 4.65%. One thing is clear. The entry level market has changed and has surged dramatically upwards. Improved 1500 square foot homes are selling for up to $1,250,000. 2000 sf homes are selling up to $1,500,000. This leaves it very difficult for the entry level buyer. They will more than likely be forced to place offers in Pleasant Hill and Walnut Creek, more affordable options.
The high end market remains challenging. Buyers are showing that they prefer renovated homes, and flats lots with plenty of outdoor living and views. Homes built on up or down slopes remain challenging to sell, so the correct offer price point is crucial for the seller to consider. Otherwise, “days on market” accrue and homes end up selling for much less than anticipated.
With serious pent up buyer demand in all price points, I believe this is truly a seller’s market, most particularly in the lower and up to $2,000,000 price range. If you are considering selling, 2018 is the time to do it. Let me know if I can be of help navigating this market.
Best Wishes to you and your family, Melanie Snow
